JELD-WEN Holding, Inc. (NYSE:JELD) Sees Significant Increase in Short Interest

JELD-WEN Holding, Inc. (NYSE:JELD) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 4,867,692 shares, a growth of 33.3% from the February 26th total of 3,651,658 shares. Based on an average trading volume of 1,832,579 shares, the days-to-cover ratio is presently 2.7 days. Approximately 5.7% of the shares of the stock are sold short.

JELD-WEN Trading Up 6.8%

JELD-WEN stock traded up $0.08 during trading on Tuesday, reaching $1.18. 1,168,110 shares of the company were exchanged, compared to its average volume of 1,588,852. The stock’s 50 day simple moving average is $2.10 and its two-hundred day simple moving average is $3.01. The company has a market capitalization of $101.41 million, a P/E ratio of -0.16 and a beta of 1.77. The company has a debt-to-equity ratio of 12.47, a current ratio of 1.76 and a quick ratio of 0.99. JELD-WEN has a 52-week low of $1.10 and a 52-week high of $6.98.

JELD-WEN (NYSE:JELD) last issued its earnings results on Tuesday, February 17th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.19). JELD-WEN had a negative return on equity of 29.63% and a negative net margin of 18.96%.The company had revenue of $801.96 million during the quarter, compared to analyst estimates of $747.20 million. On average, equities research analysts expect that JELD-WEN will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JELD-WEN

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in shares of JELD-WEN by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,585 shares of the company’s stock valued at $132,000 after buying an additional 2,416 shares during the period. Rhumbline Advisers lifted its holdings in JELD-WEN by 2.9% in the second quarter. Rhumbline Advisers now owns 132,758 shares of the company’s stock valued at $520,000 after acquiring an additional 3,711 shares during the last quarter. Intech Investment Management LLC lifted its holdings in JELD-WEN by 12.5% in the fourth quarter. Intech Investment Management LLC now owns 37,771 shares of the company’s stock valued at $93,000 after acquiring an additional 4,195 shares during the last quarter. PNC Financial Services Group Inc. grew its position in JELD-WEN by 238.3% in the second quarter. PNC Financial Services Group Inc. now owns 7,389 shares of the company’s stock worth $29,000 after acquiring an additional 5,205 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in JELD-WEN by 21.8% during the second quarter. Rafferty Asset Management LLC now owns 30,048 shares of the company’s stock worth $118,000 after acquiring an additional 5,385 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JELD. Barclays set a $2.50 price target on JELD-WEN in a research report on Monday, December 8th. Jefferies Financial Group lifted their target price on shares of JELD-WEN from $2.25 to $2.60 and gave the stock a “hold” rating in a research note on Monday, December 15th. Zacks Research upgraded shares of JELD-WEN from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of JELD-WEN in a research report on Monday, December 29th. Finally, The Goldman Sachs Group lowered their price target on shares of JELD-WEN from $3.75 to $3.25 and set a “neutral” rating on the stock in a research report on Tuesday, January 13th. Six equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $3.35.

About JELD-WEN

JELD-WEN is a global manufacturer of windows and doors and related building products, serving both residential and commercial markets. The company’s portfolio includes wood, vinyl and aluminum windows; interior wood doors; and exterior doors crafted from steel, fiberglass and composite materials. JELD-WEN’s products are designed for new construction and remodeling applications, with an emphasis on quality, durability and energy efficiency.

Founded in 1960 in Klamath Falls, Oregon, JELD-WEN has grown through a combination of organic expansion and strategic acquisitions to establish a manufacturing footprint in North America, Europe and Australasia.